Rwanda has expressed interest to be among the first 17 nations across the world to be part of a new initiative for countries to identify areas for strengthening their management of financing for the SDGs with Integrated Financing Solutions.
The initiative is dubbed, Integrated National Financing Framework (INFF).
Rwanda signed up among the first 17 nations across the world to be part of the initiative on the sidelines of the recent United Nations General Assembly in New York.
Speaking recently at a domestic savings conference, UNDP Rwanda Country Director Stephen Rodrigues said that the initiative will among other things serve to mobilize revenues and funds for the SDG process.
The Integrated National Financing Framework (INFF), a Development Finance Assessment aims to help countries identify areas for strengthening their management of financing for the SDGs with Integrated Financing Solutions.
The framework was introduced in the context of the interconnected and complex nature of the sustainable development agenda to support and strengthening financing frameworks at the country level as part of broader efforts to support countries on SDG-related reforms.
The initiative was also set up on the basis that the SDGs will demand both significant increases in capacity and resources as well as changes in the way existing resources are used and prioritized.
With financing of the SDGs expected to originate from multiple sources, the INFF seeks to create opportunities to meet the scale of the sustainable development challenges ahead with greater volumes of financing that can be channeled into rising levels of investment.
Minister of Finance and Economic Planning Dr. Uzziel Ndagjimana told Business Times that already, Rwanda has integrated and domesticated Sustainable Development Goals on national development strategies such as the National Strategy for Transformation.
However, he said that the initiative could serve towards enabling the country to mobilize more resources and savings for the Sustainable Development Goals process.